Europe

European Central Bank

Sounds balanced lately −0.01 Live feed

Speeches: 6,314
First speech: Jul 8, 1998
Latest speech: Oct 21, 2026
Tone vs coming rate moves: +0.37; rank correlation

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Oct 21, 2026	Philip R. Lane: Euro liquidity lines and the international monetary system Live feed	−0.17
Oct 19, 2026	Frank Elderson: From climate and nature risks to economic resilience and competitiveness Live feed	+0.00
Oct 17, 2026	Christine Lagarde: IMFC Statement Live feed	+0.23
Oct 14, 2026	Frank Elderson: Ensuring resilience in the face of uncertainty Live feed	−0.44
Oct 13, 2026	Philip R. Lane: The AI opportunity for Europe Live feed	+0.06
Oct 6, 2026	Piero Cipollone: Money in the digital age: digital euro, tokenisation and the role of central banks Live feed	−0.12
Oct 6, 2026	Frank Elderson: Effective supervision through timely remediation Live feed	–
Jun 22, 2026	Fabio Panetta: Mundell's plan for a European currency - from theory to history Fabio Panetta	−0.10
Jun 22, 2026	Christine Lagarde: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament Christine Lagarde	+0.20
Jun 19, 2026	Emmanuel Moulin: From innovation to monetary sovereignty - striking the right note Emmanuel Moulin	−0.63
Jun 19, 2026	José Luis Escrivá: Competitiveness for growth Jose Luis Escrivá	+0.00
Jun 19, 2026	Colm Kincaid: Harnessing opportunity - the role of financial intermediaries in Europe Colm Kincaid	+0.05
Jun 19, 2026	Frank Elderson: Fireside chat Frank Elderson	−0.00
Jun 19, 2026	Piero Cipollone: The foundations of national sovereignty - the role of central bank money Piero Cipollone	+0.06
Jun 18, 2026	Joachim Nagel: New forms of money and the transmission of monetary policy Joachim Nagel	−0.02
Jun 18, 2026	Steven Maijoor: Lessons from 1763 - the central bank as lender of last resort Steven Maijoor	−0.77
Jun 17, 2026	Olaf Sleijpen: Geopolitics, trade uncertainty and inflation - chimera or reality? Olaf Sleijpen	+0.05
Jun 17, 2026	Steven Maijoor: Opening statement - round table on the Market Integration and Supervision Package in the House of Representatives Steven Maijoor	–
Jun 16, 2026	Olaf Sleijpen: Racing the clock - Europe's journey to a Savings and Investment Union Olaf Sleijpen	−0.01
Jun 16, 2026	Gabriel Makhlouf: Monetary policy and the economic outlook Gabriel Makhlouf	+0.24
Jun 15, 2026	Joachim Nagel: Act now and advance the German economy Joachim Nagel	+0.20
Jun 15, 2026	Christine Lagarde: Money in transition Christine Lagarde	+0.05
Jun 11, 2026	Mary-Elizabeth McMunn: Opportunities and responsibilities - international financial services in fragmenting times Mary-Elizabeth McMunn	+0.18
Jun 10, 2026	Colm Kincaid: Financial literacy - a regulator's perspective Colm Kincaid	–
Jun 10, 2026	Denis Beau: Unlocking the Banking Union - the endgame of simplification Denis Beau	−0.02
Jun 8, 2026	Burkhard Balz: Cash and the digital euro – complementary forms of public money Burkhard Balz	−0.00
Jun 8, 2026	Mary-Elizabeth McMunn: Navigating and responding to change - resilience, innovation and regulation in the funds sector Mary-Elizabeth McMunn	+0.09
Jun 4, 2026	Marja Nykänen: Systemic risk in an age of uncertainty Marja Nykänen	−0.15
Jun 4, 2026	Yannis Stournaras: The challenge and the opportunity of the Savings and Investments Union Yannis Stournaras	+0.08
Jun 3, 2026	Frank Elderson: Strengthening operational resilience for the age of AI Frank Elderson	−0.16
Jun 3, 2026	Piero Cipollone: Europe's money evolves so people's freedom to pay remains Piero Cipollone	+0.15
Jun 3, 2026	Olli Rehn: Systemic risk, resilience and competitiveness in a changing technological landscape Olli Rehn	−0.04
Jun 2, 2026	Tuomas Välimäki: Europe's economy under the weight of power politics Tuomas Välimäki	–
Jun 2, 2026	Olli Rehn: Europe's economy under the weight of power politics Olli Rehn	+0.19
Jun 2, 2026	Tuomas Välimäki: Central banks and the future of money - trust, resilience and renewal Tuomas Välimäki	+0.28
Jun 2, 2026	Boris Vujčić: A European perspective on currency and convergence Boris Vujčić	+0.03
Jun 1, 2026	Steven Maijoor: Fintech, supervision and smooth sailing Steven Maijoor	−0.00
Jun 1, 2026	Isabel Schnabel: From money market funds to stablecoins - lessons for central banks Isabel Schnabel	−0.02
May 30, 2026	Yannis Stournaras: What can central banks do about housing affordability Yannis Stournaras	−0.00
May 29, 2026	Fabio Panetta: Overview of economic and financial developments in Italy Fabio Panetta	−0.01
May 28, 2026	Christine Lagarde: When it matters most - upholding independence in challenging times Christine Lagarde	+0.09
May 28, 2026	Piero Cipollone: Money in the digital age Piero Cipollone	−0.04
May 27, 2026	Gabriel Makhlouf: Publication of the Financial Stability Review 2026:1 Gabriel Makhlouf	−0.03
May 26, 2026	Vasileios Madouros: Finance in transition - the Central Bank of Ireland's approach to tokenised finance Vasileios Madouros	−0.10
May 26, 2026	Denis Beau: Strengthening the security of European payments Denis Beau	−0.01
May 25, 2026	François Villeroy de Galhau: Europe and China - a key economic relationship under the pressure of great uncertainty and growing imbalances François Villeroy de Galhau	+0.00
May 22, 2026	Colm Kincaid: A modern code for a modernising movement Colm Kincaid	+0.05
May 22, 2026	Philip R Lane: Europe and the world economy Philip R Lane	−0.02
May 22, 2026	Petar Chobanov: From financial literacy to financial stability Petar Chobanov	−0.01
May 21, 2026	François Villeroy de Galhau: Broadening the horizon - lessons from a decade of banking supervision François Villeroy de Galhau	−0.10
May 21, 2026	Steven Maijoor: From survival to partnership - how fintech needs the regulators, and the regulators need fintech Steven Maijoor	–
May 19, 2026	Gabriel Makhlouf: One single market - goods, services and capital Gabriel Makhlouf	+0.00
May 19, 2026	Claudia Buch: The bank-sovereign nexus - securing progress by completing the banking union Claudia Buch	−0.22
May 18, 2026	Martin Kocher: Why our changing world needs a strong euro Martin Kocher	+0.06
May 13, 2026	Burkhard Balz: Central bank policy in an evolving cash landscape Burkhard Balz	−0.08
May 13, 2026	Christine Lagarde: The courage to build a Europe that endures Christine Lagarde	−0.12
May 13, 2026	Philip R Lane: Analytical perspectives on energy supply shocks Philip R Lane	+0.15
May 12, 2026	Frank Elderson: Boosting prosperity through deeper integration Frank Elderson	−0.21
May 11, 2026	Christina Papaconstantinou: The Greek economy - achievements and challenges Christina Papaconstantinou	+0.10
May 9, 2026	José Luis Escrivá: Capital flows, exchange rates, and geopolitics - the value of trust in a changing global order Jose Luis Escrivá	−0.02

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.